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Morning all,

Apologies for brevity and tardiness but just been to a briefing on an interesting opportunity …

One of the strangest stage directions in a Play, Shakespeare’s Winters tale, is Exit stage left pursued by a bear. Seems that this applies very well to Uncle Ben as he chaired his last FOMC meeting before Yellen not shouting takes the reins. There is trouble at mill. Emerging markets are being hit hard in their currency markets and have had to move interest rates up aggressively and quickly to try and stave off runs on their currency..aggressive moves from Turkey ,India and others are failing to calm markets and the stretched equity valuations caused by free money are beginning to look a little like the Emperor has no clothes…although Faceplant did exceed expectations over $250m revenue from its mobile ads buiz..this produced no revenue at all when they listed..not sure though who clicks on these ads though..maybe a mistake…anyway worryingly for Faceplant or not perhaps as they have no money anyway, teens are deserting this site in droves as they embrace Snapchat, Instagram and others..I know my kids are!

Anyway, the FOMC was the focus as currency turmoil reined…the news of a Brand New Yellen Era ushered in by more Taper was enough to send  Wall Street off to bed without their supper…they were not happy….Risk is back baby!!Another $10bn wind back…should keep the pressure on for a while…need to get rid of the excesses…and I have seen Wolf of Wall Street…bored me senseless!!

Expect our market to be sorely disappointed too..Iron Ore got walloped as Chinese New Year looms but Gold the last refuge for scoundrels had a good day..certainly should have given the issues in Submerging Markets…

We will see 5100 as I suggested the other day…reporting season here will; be challenging and this year will prove much harder than last..stock picking will be the way to go..throwing money at the wall and hoping it stocks..nah, those days are over…a rising tides lifts all boats but when the tide goes out we see who isn’t wearing any clothes…there will be a few!!!

Idea of the Day


Things to make me go mmmmmm!!!

I was listening to The Sex Pistols on the bus..sounds a bit tame these days compared with some of the stuff coming out of Miley and Co ,but it occurred to me that there is not enough rage in our youth..at least not in the West anyway..plenty in the Ukraine and Syria!Seems that young people are too busy with their heads in their Smart phone to see what is happening to their World…maybe it’s just too hard but compared to the activism of the 60s the punk movement in the 70/80’s it’s all about Booty and Twerking these days..sspect that is the way the powers that be like it..keep the population under control and they won’t see what is happening!!!Simples!

Atlas Iron: has upgraded its production guidance and given the strongest indication yet that it is closing in on an infrastructure deal that would help unlock its Pilbara iron ore potential.

Drillsearch: Central Australia’s Cooper Basin continues to surprise energy companies, with Drillsearch upgrading expected oil production from the Bauer field by more than a million barrels of oil equivalent. Drillsearch, which shares ownership of the Bauer field on the basin’s Western Flank with Beach Energy, boosted full-year petroleum production guidance because Bauer is bigger than previously thought.

Seems everyone is getting bullish on Free to Air TV stations….apparently it’s all about the cricket ratings…have to say watching Prime time last night lots of crappy ads again…Payday lenders etc!!Not convinced myself but TEN do have Sochi!

Driving out to the airport yesterday and was counting cranes…7 on the stretch to Sydney Airport..the boom in property is back..Chinese investors are swamping our little city!!!It’s a bonanza..but proably all cash!!!May not help the banks although they are falling over themselves to lend to SMSF to buy units etc…

And finally…..

A lonely, old Italian lived alone in Mareeba.  He wanted to plant his annual tomato garden, but it was very difficult work as the ground was so hard.

His only son, Vincent, who used to help him, was in remand on multiple murder charges.  The old man wrote a letter to his son and described his predicament:

Dear Vicenzo,

I am feeling pretty sad, because it looks like I won’t be able to plant my tomato garden this year. I’m just getting too old to be digging up a garden plot.  I know if you were here my troubles would be over…  I know you would be happy to dig the plot for me, like in the old days.


A few days later he received a letter from his son.

Dear Pop,

Don’t dig up that garden.  That’s where the bodies are buried.



At 4 a.m. the next morning, Police arrived and dug up the entire area without finding any bodies.  They apologized to the old man and left.

That next day the old man received another letter from his son.

Dear Pop,

Go ahead and plant the tomatoes now. That’s the best I could do under the circumstances.

Love you,


Have a great day




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